BTCUSDT20240513P61500
Bitcoin / Tether USD May 13 2024 61500.00 Put
crypto

I own about .5% in my cash, ROTH and IRA accounts because digital currency is going to be a reality, Crypto is becoming mainstream with the the money collector bankers and nearly every CFP recommending having some exposure. To hedge my risk, been selling short term calls #% above the market against FBTC in my ROTH and IRA accts and reinvesting the premium in more FBTC. The other adv of FBTC in my cash acct in my view, it doesn't pay dividends, which can affect IRRMA, SS and certain tax benefits of keeping your income low whilst growing your net worth. I also like the fact that I don't have to manage actual BTC or the tax reporting consequences of owning, selling or using it. So far....that plan is working, but the possibility for it to drop to 50K is always looming. THis is why crypto must be regulated.

This isn't specifically a Bitcoin question, but it is directly related.
For those who have a concern about privacy, or those who live in countries which have blocked certain tokens (or banned BTC), I'd like to hear some discussion on what CEXs or DEX are reliable and legitimate that don't have a KYC process.
Back in the day, KuCoin was an option, but no longer and it sounds like they're having some issues. Can you folks recommend other vendors? I've seen Bisq mentioned a few times but their fees (pricing) seems outrageous.
Would love to hear some discussion on this subject.
Thanks in advance!

To your point on crypto moving wealth, I’d agree with you on many coins, but billionaires are rolling billions into BTC as if their life depended on it. That shows something, unsure what. My gut feels it might be the USD confidence is floundering, and those with billions of them don’t want to be stuck holding them.

It really comes down to risk tolerance and conviction. Big winners usually require sitting through rough drawdowns (look at BTC, AAPL, TSLA. All the big hitters see multiple -60%+ drawdowns), which most people can’t stomach.
That’s why trimming as others have suggested when you start losing conviction, but also not being afraid to add on the way up is key. Funny enough, most people DCA into losers but rarely into winners.

There is a collectables line. That's a 28 mil improvement from BTC.

By the way, you compared BTC to visa here:
Remember, Visa does so while procesing **3,000 times** more tnxs per second than BTC does.
How do you propose to scale BTC to this level, while remaining comparable fees?
If your going to comapre the two, don't cut things out.

Respectfully, please don't use chat GPT to write your replies.
>blocks come every \~10 minutes on average, just as designed. If you want instant settlement for small spends, that’s exactly what Lightning is for, and it’s been running live for years.
This is slow.
It's even slower when you consider that's for the first confirmation- final confirmation doesn't occur until five or six, so that's a full hour. It's even slower if you consider that small tnx's might not make the first few blocks.
As for LN- I have an inherent distrust of off-chain layer 2's, for all the usual reasons. Secondly- BTC isn't the only chain with L2's.
As of toda,y the average fee is 0.61 USD
[https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3y](https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3y)
Nonetheless, I'll concede the broader point about it being cheaper than I thought. That's fair. Nonetheless, it can be lower.

It looks like BTC is correctly valued by this metric?

It is a value only for the pinions who will buy this price while it is not sold your BTC has a value of 0 in your pocket.
And in 2025 BTC is used for something other than buying drugs, second-hand Ukrainian weapons or renting children for a night... or still not?
This too will one day have to be asked to the BTC holder.

Yet still people try to win by pumping their hard earned cash into BTC. Imagine if that money glowed to BTC instead of scam coins.

Id be rich. Haha me and the boys bought $5k of BTC back in 2016. Something like 12 bitcoin i think. Yeah well guess where we spent it 🤣

Just started 100% in BTC, DCA 470 USD weekly for 10 years. After finishing studies in 2 years i'll DCA a world index as well for safety.

Jupiter DEX (decentralized exchange) on solana chain with phantom wallet (chrome extension and iPhone app), very fast and cheap to transact. Phantom is free.
Uniswap DEX with metamask wallet browser extension on Eth.
Sol is like eth but faster and cheaper. But eth is decentralized and immutable and solana is more centralized.
They both are great and have their use cases. I’m long eth and sol long term
There may be better ways, but I think these are great.
EDIT:
Buying the official wrapped BTC on the chain you are using is an easy way to switch between ETH and BTC holdings while staying decentralized. It’s an ERC20, not actual bitcoin, but can always be traded for the equivalent BTC price at the time it is sold paid out in ETH. Buying actual BTC with ETH is a lot harder

Here is a new list of estimated crypto wealth that some of the best known public figures have accumulated to date.
It is based on speculation and public sources available online. Please note, I am speculating that some USD cashouts have happened, see my other list here [https://www.reddit.com/r/ethtrader/comments/1nog64t/the\_ultimate\_list\_of\_crypto\_foundersinvestors\_usd/](https://www.reddit.com/r/ethtrader/comments/1nog64t/the_ultimate_list_of_crypto_foundersinvestors_usd/)
**Top people in crypto:**
* \* CZ / Changpeng Zhao: Net worth estimated $64.8 billion (through his company Binance and possible BNB holdings)
* \* Justin Sun: Net worth estimated $5-7 billion (recently Tron had an IPO plus TRX holdings - he may have significantly less because he is a frequent seller but he owned a considerable stake in TRX)
* \* Chris Larsen: Net worth estimated $5.85 billion (Source Protos, he sold XRP on the way up, decreasing his net worth but owns company shares in Ripple Inc)
* \* Jed McCaleb: Net worth estimated $5.35 billion (Source Protos, he sold XRP on the way up, decreasing his net worth)
* \* Winklevoss Twins: Net worth estimated $3 billion (combined: Gemini 3B plus 1B holdings possibly less)
* \* Joseph Lubin: Net worth estimated $3 billion (Ethereum co-founder with approx. 3M ETH but sold good chunk on the way up)
* \* Vitalik Buterin: Net worth estimated $3 billion (Source: Speculative, owns approx. 2B stake in ETH at current prices according to latest data plus an additional 1B sold)
* \* Michael Novogratz: Net worth estimated $1.91 billion (Source BitBo, please note this is through his company Galaxy Digital)
* \* Jesse Powell: Net worth estimated $1.5 billion (through his stake in Kraken)
* \* Kris Marszalek: Net worth estimated $1.5 billion (through his company [Crypto.com](http://Crypto.com) and CRO holdings)
* \* Roger Ver: Net worth estimated $1 billion (through his BTC holdings and BCH sales)
* \* Arthur Breitman: Net worth estimated $500 million (through his XTZ holdings)
* \* Craig Wright: Net worth estimated $500 million (early miner with significant holdings, controversial figure)
**Possible Satoshi Speculation:**
* \* Jack Dorsey, Szabo, Etc: Net worth estimated $112 billion (If Jack is Satoshi, then his net worth should be around 1M Bitcoins.)
Please see this source for more info on Satoshi speculation - personally I believe Jack may be Satoshi [https://x.com/financeguy74/status/1890850549035110558?s=46](https://x.com/financeguy74/status/1890850549035110558?s=46)
We can safely conclude that CZ is one of the richest persons in crypto whereas Joseph Lubin and Vitalik Buterin are slightly behind the Ripple Co-founders. They are trying to put RWA on the Ripple blockchain which may further increase their fortunes. Vitalik has invested in StarkWare and other companies and may be able to increase his wealth through smart investments in the cryptosphere.
Thank you for reading. Please note this is based on speculation and public sources and is not the factual net worth. We have very little info about the actual wallet movements which makes it difficult to estimate.
PS: Shameless plug - I also want you to know of UOS (Ultra.io). Their CEO has a bold vision for web 3 gaming and wants to raise 50-100M USD to acquire content. A new web3 game called Ashes of Mankind Citadels is coming and may acquire 1M new users for Ultra.io. Discount buy right now. Cheers!
***Disclosure:*** I am an Oldschool ethtrader user with connections to the industry so my speculations above are based in reality.

According to your chart the price is pretty much where it should be lol. But I’m not sure it’s scaled properly, the ones posted earlier looked different and the M2 went up to like 140k on BTC scale

85% BTC / 15% Cash/HYSA/Time Deposits
I only rebalance every time Bitcoin risk metric goes above 0.9-0.95

Its the BTC

Comparing to BTC makes no sense. 99% of cryptos ever conceived lost 99% to Bitcoin (and often even 100%...). It has ~60% of total crypto market cap, with 10k+ cryptos being actively traded and listed on CMC.
Now, if you take the above into account, LTC looks absolutely great.

Isn’t it the BTC?

I'm from a 3rd world country and I think it's pretty delusional to estimate $10,000 per person in the world saved in BTC.